We strive to provide you with information about products and services you might find interesting and useful. Relationship-based ads and online behavioral advertising help us do that. Show
Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have. If you prefer that we do not use this information, you may opt out of online behavioral advertising. If you opt out, though, you may still receive generic advertising. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements. Also, if you opt out of online behavioral advertising, you may still see ads when you log in to your account, for example through Online Banking or MyMerrill. These ads are based on your specific account relationships with us. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Bank of America Online Privacy Notice and our Online Privacy FAQs. 1 To send or receive money with a small business, both parties must be enrolled with Zelle® directly through their financial institution’s online or mobile banking experience. 2 Zelle® should only be used to send money to friends, family or others you trust. We recommend that you do not use Zelle® to send money to those you do not know. Transfers require enrollment in the service with a U.S. checking or savings account and must be made from an eligible Bank of America consumer or business deposit account. Transactions between enrolled users typically occur in minutes and transactions between enrolled consumers do not typically incur transaction fees. We will send you an email alert with transaction details after you send money using Zelle®. Dollar and frequency limits apply. See the Online Banking Service Agreement at bankofamerica.com/serviceagreement for further details. Payment requests to others not already enrolled in Zelle® must be sent to an email address. Data connection required. Message and data rates may apply. Neither Bank of America nor Zelle® offers a protection program for any authorized payments made with Zelle®. Regular account fees apply. Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license. 3 Mobile Banking requires that you download the Mobile Banking app and is only available for select mobile devices. Message and data rates may apply. Bank of America and the Bank of America logo are registered trademarks of Bank of America Corporation. 1. General Description of this AddendumA. What this Addendum CoversThis Addendum to the Bank of America Online Banking Service Agreement(“Agreement”) sets forth the terms for your use of the services available exclusively to small business customers (“Business Services”), described herein. You understand that the Business Services are intended to be used for business purposes only, and not for personal, family or household purposes. B. Relationship to Other AgreementsExcept where modified by this Addendum, all the existing terms and conditions of the Agreement remain in effect. If there is a conflict, the terms in this Addendum will control your use of the Business Services. C. Accepting the Agreements
2. Account ManagementA. Description and FeeThe Account Management service allows you to establish individual account access levels (including customized access to Bill Pay and Payments and Invoicing) in online banking. The monthly fee for Account Management is $15.00, which is waived for the first three (3) calendar months after enrollment in the service. Additionally, the monthly Account Management fee is also waived for the following:
B. Creating and Managing UsersYou may authorize other users and control their scope of activities by designating user levels, access levels, and account settings. You may add additional users to your online banking profile and provide each with a separate Online ID and passcode.
You may designate the user level either as “user” (also sometimes referred to as “sub-user”) or “Administrator.” An Administrator in Account Management is a user who is able to create additional users, edit and monitor other users. An Administrator in Account Management is not eligible to enroll in other Business Services or grant levels of access to other users that have not been granted to the Administrator. For each user, you can designate which account(s) the user will have access to. You may also place limits on the types of transactions for each account to which the user is granted access. For each account linked to your Online ID, except for personal investment accounts, you can designate each user's access level and account settings.
Access Level (also sometimes referred to as “Activity Level”) means either Transactional Access, View Access or No Access. You agree that users have Transactional Access, unless otherwise specified by you or an Administrator. You agree that by granting Transactional Access (also sometimes referred to as “financial access” or “full access”) to an account you will be allowing a user to transfer funds, make payments, perform account maintenance, and view account balances and activity on the account, subject to the selected account or general service settings. View Access (also sometimes referred to as “inquiry access” or “basic access”) allows a user to only view account balances and activity, subject to the selected account or general service settings.
Account settings are levels of access and transactional limits that you and/or an Administrator may select for each user. In addition to specifying Transactional, View, or No Access for a user of an account, you can also specify certain other account settings, including transaction limitations as provided on our web site. You may also designate certain "general service settings," which are global settings that may affect more than one account. These include Full Access Bill Pay, Payroll Services and Direct Payments. There are additional controls available for the Bill Pay option. If you select to enable Full Access for a user of Bill Pay, that user will automatically have Transactional Access to all the accounts that you have set up for Bill Pay, and the user will be able to pay bills using the Bill Pay feature and set up new payees. You may, however, designate Limited Access for a user of Bill Pay, which will permit the user to have Transactional Access for specific accounts and existing payees only. For the Bill Pay functionality, you may limit a user to use only certain specified accounts. For users of the Payroll Services and Direct Payments, only Transactional Access is available. In addition to designating general service settings, you can also provide additional account settings on certain eligible accounts, such as allowing a user to view statements, view check images or make transfers for the selected accounts. Any user to whom you have given transfer ability will be able to see the last name and last 4 digits of the account number for all transfer recipients created by you, an Administrator or any other user, even those that the user did not initiate.
You are obligated to inform Bank of America of any changes to the person(s) authorized on the signature card for each linked account to designate signers and/or users for each such account. Such notice must be given separately from any other notices given to other Bank departments or financial centers by calling us at 1.888.business (287.4637). You may also write us at: Bank of
America You are responsible for (and we will have no liability to you for) any unauthorized payments, transfers, or other transactions performed on any account linked to this service that are made by a designated user or Administrator using the passcodes you or an Administrator assign and that occur before you have notified us of possible unauthorized use and we have had a reasonable opportunity to act on that notice. 3. Linking Accounts of Additional Businesses and Consumer AccountIf you are authorized to enter into an agreement for a Business Service for another business, and if you want to link the accounts of the other business to the accounts covered by the agreement in online banking, you will need to agree separately to the Agreements for each other business. Upon doing so, you may link the accounts of the businesses so that you may elect, at your risk and that of the businesses, but not of the Bank, to use a common Online ID and passcode to access all linked accounts in online banking. You should do this only if you are authorized to link the accounts of the different business and to use all the functions of online banking for each business. You may also link an eligible Bank of America consumer account to the accounts covered by the Agreements in online banking. You may link eligible accounts only if you are the owner of the business account and the consumer account. If you link your business accounts to your consumer accounts, you agree and understand that the owner Online ID provides the ability to view and/or perform transactions with linked consumer accounts. You are obligated to inform Bank of America if your authority over any linked account decreases. The Bank is not liable if your authority over any account decreases until it is informed of the change in authority using the Notice Requirements in Section 2 of the Addendum above. 4. Direct Connect for QuickBooks®You may also access your account information directly through QuickBooks® software. You are responsible for separately purchasing QuickBooks, and the Bank makes no warranties nor accepts any liability for such software. QuickBooks and the QuickBooks logo are registered trademarks of Intuit, Inc., used under license. Bank of America does not deliver and is not responsible for the products, services or performance of Intuit, Inc. Bank of America and/or its affiliates or service providers may receive compensation from third parties for clients' use of their services. 5. Cash Flow Monitor and Connected Apps ("Cash Flow Monitor")A. Relationship to Other AgreementsYou may use Cash Flow Monitor and Connected Apps (“Cash Flow Monitor”) to access services offered by Bank of America, its affiliates or third parties not affiliated with Bank of America. You agree that when you use Cash Flow Monitor to access services operated by third parties, in addition to the terms and conditions in the Agreements and other applicable agreements described in this Addendum, you will be subject to any terms and conditions established by those third parties, and that this Section does not amend any of those terms and conditions. You agree that only the third parties are responsible for services they provide, and if you have any problems with the third parties, you should contact them directly. B. Description of Cash Flow MonitorCash Flow Monitor is a cash flow dashboard that allows you to consolidate and view your financial information. Cash Flow Monitor also uses proprietary technology to allow you to retrieve and view information maintained by third parties with which you have customer relationships, maintain accounts or engage in financial transactions (“Third-Party Account Information”). In the future, we may remove or add new functionalities. C. Eligibility for Cash Flow MonitorTo access Cash Flow Monitor, you must be an owner of an open Bank of America business deposit account and have access to your account through online banking. D. Information from Third Parties/Service LimitationsYou may use Cash Flow Monitor to direct Bank of America to retrieve Third-Party Account Information maintained by third parties. Bank of America works with one or more third party service providers to provide you with access to this Third-Party Account Information using third-party software applications (“Apps”). Bank of America does not review the Third-Party Account Information for accuracy, legality, or non-infringement. Bank of America is not responsible for the Third-Party Account Information or services offered by third parties. We cannot always foresee or anticipate technical or other difficulties. These difficulties may result in loss of data, loss of customized settings or other service interruptions. We do not assume responsibility for the timeliness, accuracy, deletion, mis-delivery or failure to store any user data, communications or customized settings. For example, information displayed through Cash Flow Monitor may be more up-to-date when obtained directly from relevant third-party web sites. You agree that we are not liable for any errors or delays in the content, or for any actions taken in reliance thereon. Cash Flow Monitor provides links to selected third party web sites for your convenience only. The third party you select is solely responsible for its services to you. We are not liable for any damages or costs of any type arising out of or in any way connected with your use of the services of a third party. We retain the right (not the obligation) at our sole discretion to prevent access to any web site from Cash Flow Monitor. E. Rights You Grant to UsWhen you use Cash Flow Monitor to access Third-Party Account Information maintained by a third party, you agree to the following:
F. AlertsAutomatic alerts are provided within the Cash Flow Monitor dashboard in Online and Mobile Banking, and are viewable by selecting the alert bell at the top of the dashboard. We provide alerts if:
G. Suspension or TerminationWe reserve the right to change, terminate or suspend Cash Flow Monitor, or your use of Cash Flow Monitor (either entirely or only with respect to a particular App), at any time for any reason or no reason with or without advance notice to you. You may terminate access to any App at any time in accordance with the terms and conditions specified by the relevant third-party provider of the App. You acknowledge that certain Apps integrate or communicate with other Apps and Cash Flow Monitor, and that by suspending or terminating access to an App, such integration or communication may be interrupted, degraded or permanently disabled. You further acknowledge that we have no obligation to notify you of the consequences of suspending or terminating access to an App, nor will we have any liability to you for any damages, liabilities, losses (including any loss of data or profits) or any other consequences you may suffer as a result of suspension or termination of access to any App. You agree that we will not be liable to your or any third party for any modification or discontinuance of Cash Flow Monitor. H. Support ServicesYou acknowledge that we have no responsibility for any maintenance or support of any App. Any problems with an App are the sole responsibility of the App Provider. Bank of America provides customer support specifically for Cash Flow Monitor by telephone at 866-758-5972. You can also ask a question from within the Bank of America web site clicking "Help" at the bottom of any page, then clicking "Ask a Question" at the top of the page. I. Collection, Use, and Disclosure of Information and Third-Party Account InformationBy using Cash Flow Monitor, you acknowledge and agree to provide Bank of America information concerning you, your business, your financial accounts, and your employees (the “Information”). You may also choose to provide Bank of America with Third-Party Account Information, as explained above in the section “Information from Third Parties/Service Limitations”. Where required by data protection laws, your agreements with Bank of America, or other applicable legal requirements, you represent that you have provided notices and obtained consents from every third party with whom you transact or whose data is accessible through your accounts. You further acknowledge and agree that Bank of America may use third party service providers to assist in the performance of Cash Flow Monitor as it deems necessary and at its sole discretion. Your use of Cash Flow Monitor constitutes your agreement that Bank of America and its service providers may collect, process, use, and store Information and Third-Party Account Information as described in this Addendum. You further acknowledge and agree that Bank of America and its service providers will use your Information and Third-Party Account Information to provide the Service. You also agree that we or our service providers may process Information and Third-Party Account Information to de-identify or aggregate it so that neither you, any user you authorize, nor your business are identifiable from such resultant data. We may use or disclose such data for any lawful purpose without further notice to you, including for statistical analysis, sharing with third parties (including in exchange for payment or other commercial benefit), benchmarking, publication, and for the display through widgets or Apps to any user of Cash Flow Monitor (including users unrelated to you). J. FeesYou may be assessed a fee for access to or use of certain aspects of Cash Flow Monitor. We will notify you in advance of assessing such a fee. K. Licenses1. License/Terms and Conditions for Apps Each App is licensed in accordance with the terms and conditions specified by the relevant third-party provider. Neither we nor any service provider that assists us with providing Cash Flow Monitor to you has any liability or responsibility to you or any third party in connection with any breach or alleged breach, claim or action arising from any such terms and conditions or the use of an App. 2. License to Information and Third-Party Account Information To the extent any intellectual property rights are vested in any Third-Party Account Information or Information, you agree to grant to us a perpetual, irrevocable, royalty free, sub-licensable, transferable license to use, reproduce, modify and adapt the Information for the purpose of supplying Cash Flow Monitor to you. 6. Direct PaymentsA. Description of the Direct Payments ServiceThe Direct Payments Service, which is not open for new enrollment, allows you to transfer funds from your small business checking account at Bank of America to an individual’s or vendor’s account at another financial institution when delivery of funds by a specific date is critical. B. Fees
C. Dollar Limits
7. Payroll Services by Intuit®A. Relationship to Other AgreementsYou agree that when you use online banking to access optional web-based payroll processing services from third-party provider Intuit® (referred to in this section as “Payroll Services”), in addition to the terms and conditions in the Agreements and other applicable agreements described in this Addendum, you will be subject to any terms and conditions established by Intuit, and that this Section does not amend any of those terms and conditions. You also agree that only Intuit® is responsible for the services it provides, and if you have any problems with Intuit® services, you should contact Intuit® directly. B. Description of ServicesIn online banking, we provide a link that you may use to navigate to the Intuit web site to access Payroll Services. This will enable you to simultaneously work in both sessions as permitted by the applicable service agreements; however, there will be no download or transfer of your account information or data from the Bank of America website to the Intuit website except as described herein. When you navigate from the Bank of America site to the Intuit web site you hereby authorize us to transmit to Intuit the necessary identification and security information concerning you and your authorized users. The Payroll Services include self-service options (“Intuit® Online Payroll”) and expert help (“Intuit Full Service Payroll®”). There are two levels of Intuit® Online Payroll self-service options: Basic and Enhanced. Basic supports direct deposit. Enhanced supports direct deposit, and also provides state and multi-state tax service. In the future, we may remove or add new Payroll Services by Intuit®. The Payroll Services are products of Intuit Inc. You must go to the Intuit website to enroll in and use the Payroll Services. Bank of America is not responsible for the products or the performance of Intuit Inc. Intuit and the Intuit Logo are registered trademarks of Intuit Inc., used under license. Bank of America provides access to Intuit® Payroll Services in online banking for your convenience only. Intuit® is solely responsible for its services to you. We are not liable for any damages or costs of any type arising out of or in any way connected with your use of the services of Intuit®. We retain the right (not the obligation) at our sole discretion to prevent access to any web site from online banking. You acknowledge that Bank of America and/or its affiliates or service providers may receive compensation from third parties in connection with third party services accessible through online banking. Online banking is not sponsored or endorsed by any providers of the third-party services you access through online banking. C. EligibilityTo access the Payroll Services from online banking, you must have an open Bank of America small business checking account. D. FeesFor up-to-date information on fees charged by Intuit® for the Payroll Services, please visit Intuit’s website. E. TerminationWe reserve the right to change, terminate or suspend your access to the Payroll Services through online banking at any time for any reason or no reason with or without advance notice to you. You may terminate your enrollment in the Payroll Services at any time in accordance with the terms and conditions specified by Intuit®. F. Support ServicesYou acknowledge that we have no responsibility for any maintenance or support of Payroll Services by Intuit®. Any problems with these services are the sole responsibility of Intuit®. 8. Payments and Invoicing ServiceA. Description of Payments and Invoicing ServiceThe Payments and Invoicing Service (the "P and I Service") enables you to make payments to third parties (your "Payees"), receive payments from third parties (your "Customers"), and manage accounts payable and accounts receivable electronically. In offering the P and I Service, we utilize third-party service provider Bill.com to gain access to their payment services platform (the "Bill.com Platform" or the "Platform") and to their centralized payables and receivables payment network of business and consumer participants (the "Bill.com Network" or the "Network"). Bank of America does not operate or control the Platform or Network and is not responsible for the accuracy of information that is stored in the Network or on the Platform. The P and I Service allows you, your Payees and Customers to connect with each other, enabling you to invoice, pay and get paid electronically. Within the Bill.com Platform, you may send and receive eBills and eInvoices,and send notes to Customers and Payees. This section includes the exclusive terms that apply to you when enrolled in the P and I Service. Section 3 of the Agreement includes terms for an alternative bill payment service which do not apply if you are enrolled in the P and I Service. You may only be eligible to enroll in one service. Bank of America makes no representations or warranties as to whether a bill payment program that you are eligible to enroll in is appropriate for a particular business. You are solely responsible for determining whether a service that is made available to you is suitable for your business, considering various factors including, but not limited to, payment processing timeframes, timing for delivery of payments, fees, and limits included in the different plans. Please note that you may also make payments to third parties within the U.S. without a fee by other means, including using Zelle (see Section 4 of the Agreement). The P and I Service offers two different plans: Essential and Advanced. Some features and functionality may only be available in the Advanced plan, such as the ability to synchronize your Payment Account (defined below) with eligible accounting software on an ongoing basis, or to designate sub-users who can access the P and I Service on your behalf. We may modify or supplement the number and plans available at any time. P&I subscribers will initially be enrolled in the Essential plan.
B. Bill PaymentsYou may initiate payments from your Payment Account to your Payees according to the Payment Instructions you provide us. "Payment Instructions" are the dates, amounts, Payee Information, and other information that you give us in order to initiate the payment from your Payment Account to the Payee. "Payee Information" is any identifying information related to the Payee, including but not limited to the Payee's name and address, email address, bank routing and account numbers that you provide us in order to identify the Payee for the purpose of transmitting payment to them. You are responsible for verifying the accuracy of all Payment Instructions provided to us. You authorize us to follow any Payment Instructions or approvals provided by sub-users, whether or not the Payment Instructions are authorized by you. You may make eligible payments manually or automatically, and in bulk. You may schedule payments either as one-time transmissions or recurring payments, depending on the applicable Payee. You may also indicate a preferred payment method (electronically, including via RPPS, or by check), but we will decide which method we use. While most payments are made by electronic transmission ("ePayment"), not all Payees are provisioned to accept ePayments. As a result, some payments may also be made by check, which may take longer to be received by your Payee. We will inform you of the payment method at the time your payment is scheduled and will tell you if the payment method changes at the time we process it. You agree that your Payment Account will be enabled for ACH debits, and you agree to reimburse us for all penalties and fees resulting from the rejection of an ACH debit relating to a Payment or from your Payment Account not being enabled for ACH debits (such as the account being subject to an ACH debit block service).
C. Accounts Receivable
The P and I Service allows you to send invoices to and receive payments from a third party (a "Customer"). By using the P and I Service, you authorize us to process payments from your eligible Customers and initiate ACH credit entries to your Payment Account. You agree your Payment Account is enabled to receive payments, and you agree to reimburse us for all penalties and fees resulting from the rejection of an ACH credit relating to a receivables payment or the Payment Account not being properly configured to accept receivables payments. You agree that you will not use the P and I Service to invoice patients for healthcare services. You further agree that you are not engaging in the business of debt collection by attempting to use the P and I Service to request money for the payment or collection of an overdue or delinquent debt; to request money that is owed to another person; or to collect any amounts that are owed pursuant to a court order. You agree to indemnify, defend and hold harmless us and our service providers from and against all claims, losses, expenses, damages and costs (including, but not limited to, direct, incidental, consequential, exemplary and indirect damages), and reasonable attorney's fees, resulting from or arising out of any request for money that you send that is related to overdue or delinquent amounts.
9. Other Terms and ConditionsA. User Conduct
B. License to Use the Business ServicesYou acknowledge that all intellectual property rights (including copyright, trademarks and patents) associated with the Business Services are owned by us or our licensees. We grant to you a non-transferable and non-exclusive license to use the Business Services in accordance with the agreements. You may not copy, reproduce, distribute, or create derivative works from this content. Further, you agree not to reverse engineer or reverse compile any aspect of the Business Services technology. You acknowledge that the Business Services are supplied on a software-as-a-service basis, and nothing in the Agreements grants to you any right to receive a copy of any of the software comprising the Business Services, except and only to the extent implied by the means of access to the Business Services provided by us (for example, through a web browser accessing the web site, portal or a mobile device app for use of the Business Services). Other than as explicitly stated in this clause, the terms and conditions of the Agreements do not grant to you any right to distribute, rent, loan, lease, sell, sublicense, or otherwise transfer all or part of the Business Services or any rights granted by the terms and conditions of the agreements to any other person. C. Rights We ReserveWe and our service providers reserve and retain all rights in the Business Services not expressly granted to you in the Agreements. The Business Services are protected by copyright, trade secret, and other intellectual property laws. We and our licensors, if any, own the title, copyright, and other worldwide intellectual property rights in the Business Services and all copies thereof. The Agreements do not give you any rights in our intellectual property or that of our licensors, or our licensors’ intellectual property, including any its trademarks or service marks. D. Not a Legal, Financial Planner or Tax AdvisorNeither Bank of America nor Cash Flow Monitor are intended to provide legal, financial or tax advice. You should consult with your own legal, tax or financial advisors, as appropriate. E. Third Party Service Providers/Third Party BeneficiaryYou grant to us and we reserve the right to use third parties to provide or facilitate the Business Services. You agree: (i) that any service provider that assists us with providing the Business Services to you may rely upon your authorization and grant of a limited power of attorney, the disclaimer of warranties, limitation of liability, and indemnification sections in the Agreements, and (ii) that such providers are, for the purposes of those sections, third party beneficiaries to the Agreements, with the power to enforce those provisions as applicable. Can you transfer money from personal to business account?Yes, you can send money from your personal account to the business one. It is one of the primary ways business owners will fund the business over the long term. Also, business owners may receive funds to their personal accounts from friends and family, and then they can move the funds to the business account.
How do I link my personal and business accounts to Bank of America?You can link your accounts by scheduling an appointment at your local financial center or by calling customer service. To speed up the process, please have the account numbers handy for the accounts you want linked.
Does Bank of America charge for transfers between accounts?A.
You may use the Service to transfer funds between your linked Bank of America and Merrill accounts without a fee on either a one-time or recurring basis, including as a payment to a linked installment loan, credit card or mortgage. There are no receiving limits for Internal Transfers between your own accounts.
Can you link a business and personal bank account?Accounts at the Same Bank
The easiest way to link business and personal accounts is to open them within the same bank or credit union. Ask your account holder to connect them, and then when you log on, you'll have the option to transfer money where you need it and when you need it.
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